Governor Okowa at the event assured that the innovative policy would enhance the ease of doing business and property owners would now be able to obtain C of O within 90 days.
The policy according to the Governor was meant to remove all the inherent bottlenecks associated with acquiring legal titles for landed property which were disincentives to investments, stressing that with the new policy, land owners can obtain C of O with digital electronic features within a maximum of ninety days.
“One of the biggest disincentives to investors anywhere in the world is the high cost and delays associated with acquiring the legal titles to landed property, in Delta State, the process of obtaining Certificate of Occupancy [C of O] has over the years become very long, arduous, unwieldy, and opaque, often resulting in unofficial payments far in excess of the approved amount“, he said.
‘FastTrack 90’, an innovative policy of this administration designed to enhance ease of business in the state, has been initiated to overcome the bottlenecks that have become a recurring decimal in obtaining C of Os, it will take a maximum of ninety days for land owners to obtain their C of Os from the Ministry of Lands and Surveys and the new system is fast, transparent and in line with global best practices”, the governor added.
Senator Okowa explained that property owners would pay two hundred thousand naira to obtain the new C of O, while those in possession of the old C of Os would pay fifty thousand naira to migrate to the new one emphasizing that “the new C of O is electronically generated, secure and fraud proof and its implementation starting in June, 2016”.
He urged all property owners in the state to ensure that they get the new C of O as it “serves as protection against government acquisition, validates your ownership of the property and eliminates needless disputes and contentions” as the new C of O can’t be duplicated, as it has unique protective features.
Governor Okowa reiterated the state government’s commitment to putting the necessary structures, institutions, processes and systems in place that would engender good governance, all-inclusive economic growth and sustainable development.
Earlier, Hon Martins Okonta, Special Adviser on Land and Legislative Matters and Mr. Abayomi, Managing Director, QueensBridge Capital Investment Ltd, in their addresses said that Fast Track 90 Scheme was an opportunity for property owners to fast track the process of acquiring C of O within ninety days and check sharp practices inherent in the issuance of old C of Os in the state.